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FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2025 and December 31, 2024:

									Fair Value Measurements at June 30, 2025 Using:
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
Description			Total						(Level 1)						(Level 2)						(Level 3)
Assets:
Securities Available-For-Sale:
U.S. Government sponsored entities			$	3,184					$	3,184					$	—					$	—
States and political subdivisions			91,212						—						91,212						—
Residential and multi-family mortgage			386,604						—						386,604						—
Corporate notes and bonds			34,230						—						34,230						—
Pooled SBA			7,968						—						7,968						—
Total Securities Available-For-Sale			$	523,198					$	3,184					$	520,014					$	—
Interest Rate swaps			$	953					$	—					$	953					$	—
Equity Securities:
Corporate equity securities			$	5,604					$	5,604					$	—					$	—
Mutual funds			3,536						3,536						—						—
Money market funds			182						182						—						—
Corporate notes			1,615						—						1,615						—
Total Equity Securities			$	10,937					$	9,322					$	1,615					$	—
Liabilities:
Interest Rate Swaps			$	(953)					$	—					$	(953)					$	—

									Fair Value Measurements at December 31, 2024 Using:
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
Description			Total						(Level 1)						(Level 2)						(Level 3)
Assets:
Securities Available-For-Sale:
U.S. Government sponsored entities			$	14,810					$	14,810					$	—					$	—
States and political subdivisions			90,956						—						90,956						—
Residential and multi-family mortgage			318,910						—						318,910						—
Corporate notes and bonds			35,210						—						35,210						—
Pooled SBA			8,660						—						8,660						—
Total Securities Available-For-Sale			$	468,546					$	14,810					$	453,736					$	—
Interest Rate swaps			$	423					$	—					$	423					$	—
Equity Securities:
Corporate equity securities			$	6,542					$	6,542					$	—					$	—
Mutual funds			1,936						1,936						—						—
Money market funds			287						287						—						—
Corporate notes			1,691						—						1,691						—
Total Equity Securities			$	10,456					$	8,765					$	1,691					$	—
Liabilities:
Interest Rate Swaps			$	(423)					$	—					$	(423)					$	—

Schedule of Assets and Liabilities Measured at Fair Value on Non-recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are as follows at June 30, 2025 and December 31, 2024:

									Fair Value Measurements at June 30, 2025 Using
Description			Total						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Collateral-dependent loans receivable:
Farmland			$	352					$	—					$	—					$	352
Owner-occupied, nonfarm nonresidential properties			1,182						—						—						1,182
Commercial and industrial			2,151						—						—						2,151
Other construction loans and all land development loans and other land loans			1,152						—						—						1,152
Multifamily (5 or more) residential properties			199						—						—						199
Non-owner occupied, nonfarm nonresidential			3,596						—						—						3,596
Home equity lines of credit			737						—						—						737
Residential Mortgages secured by first liens			598						—						—						598

									Fair Value Measurements at December 31, 2024 Using
Description			Total						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Collateral-dependent loans receivable:
Farmland			$	352					$	—					$	—					$	352
Owner-occupied, nonfarm nonresidential properties			2,531						—						—						2,531
Commercial and industrial			2,334						—						—						2,334
Other construction loans and all land development loans and other land loans			1,196						—						—						1,196
Multifamily (5 or more) residential properties			19,773						—						—						19,773
Non-owner occupied, nonfarm nonresidential			5,225						—						—						5,225
Home equity lines of credit			290						—						—						290
Residential mortgages secured by first liens			1,173						—						—						1,173

Schedule of Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2025:

Fair value

Valuation Technique

Unobservable Inputs

Range (Weighted Average)

Collateral-dependent loans receivable:

Farmland

$

352

Valuation of third party appraisal on underlying collateral

Loss severity rates

41% (41%)

Owner-occupied, nonfarm nonresidential properties

1,182

Valuation of third party appraisal on underlying collateral

Loss severity rates

22%-48% (43%)

Commercial and industrial

2,151

Valuation of third party appraisal on underlying collateral

Loss severity rates

10%-100% (28%)

Other construction loans and all land development loans and other land loans

1,152

Valuation of third party appraisal on underlying collateral

Loss severity rates

42% (42%)

Multifamily (5 or more) residential properties

199

Valuation of third party appraisal on underlying collateral

Loss severity rates

40% (40%)

Non-owner occupied, nonfarm nonresidential

3,596

Valuation of third party appraisal on underlying collateral

Loss severity rates

53% (53%)

Home equity lines of credit

737

Valuation of third party appraisal on underlying collateral

Loss severity rates

27%-41% (38%)

Residential Mortgages secured by first liens

598

Valuation of third party appraisal on underlying collateral

Loss severity rates

29%-40% (36%)

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2024:

Fair value

Valuation Technique

Unobservable Inputs

Range (Weighted Average)

Collateral-dependent loans receivable:

Farmland

$

352

Valuation of third party appraisal on underlying collateral

Loss severity rates

37% (37%)

Owner-occupied, nonfarm nonresidential properties

2,531

Valuation of third party appraisal on underlying collateral

Loss severity rates

22%-44% (25%)

Commercial and industrial

2,334

Valuation of third party appraisal on underlying collateral

Loss severity rates

9%-100% (31%)

Other construction loans and all land development loans and other land loans

1,196

Valuation of third party appraisal on underlying collateral

Loss severity rates

38% (38%)

Multifamily (5 or more) residential properties

19,773

Valuation of third party appraisal on underlying collateral

Loss severity rates

10% (10%)

Non-owner occupied, nonfarm nonresidential

5,225

Valuation of third party appraisal on underlying collateral

Loss severity rates

51% (51%)

Home equity lines of credit

290

Valuation of third party appraisal on underlying collateral

Loss severity rates

25%-29% (28%)

Residential mortgages secured by first liens

1,173

Valuation of third party appraisal on underlying collateral

Loss severity rates

22%-51% (34%)

Schedule of Carrying Amount and Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments at June 30, 2025:

			Carrying						Fair Value Measurement Using:																		Total
			Amount						Level 1						Level 2						Level 3						Fair Value
ASSETS
Cash and cash equivalents			$	425,411					$	425,411					$	—					$	—					$	425,411
Debt securities available-for-sale			523,198						3,184						520,014						—						523,198
Debt securities held-to-maturity			270,032						57,582						196,025						—						253,607
Equity securities			10,937						9,322						1,615						—						10,937
Loans held for sale			833						—						834						—						834
Net loans receivable			4,685,091						—						—						4,646,793						4,646,793
FHLB and other restricted stock holdings and investments			42,192						n/a						n/a						n/a						n/a
Interest rate swaps			953						—						953						—						953
Accrued interest receivable			25,329						238						2,973						22,118						25,329
LIABILITIES
Deposits			$	(5,467,082)					$	(4,717,205)					$	(746,180)					$	—					$	(5,463,385)
Subordinated notes and debentures			(105,342)						—						(123,151)						—						(123,151)
Interest rate swaps			(953)						—						(953)						—						(953)
Accrued interest payable			(8,880)						—						(8,880)						—						(8,880)

The following table presents the carrying amount and fair value of financial instruments at December 31, 2024:

			Carrying						Fair Value Measurement Using:																		Total
			Amount						Level 1						Level 2						Level 3						Fair Value
ASSETS
Cash and cash equivalents			$	443,035					$	443,035					$	—					$	—					$	443,035
Debt securities available-for-sale			468,546						14,810						453,736						—						468,546
Debt securities held-to-maturity			306,081						71,323						211,647						—						282,970
Equity securities			10,456						8,765						1,691						—						10,456
Loans held for sale			762						—						766						—						766
Net loans receivable			4,561,599						—						—						4,495,097						4,495,097
FHLB and other restricted stock holdings and investments			40,702						n/a						n/a						n/a						n/a
Interest rate swaps			423						—						423						—						423
Accrued interest receivable			24,739						385						2,766						21,588						24,739
LIABILITIES
Deposits			$	(5,371,364)					$	(4,648,504)					$	(718,328)					$	—					$	(5,366,832)
Subordinated notes and debentures			(105,190)						—						(124,515)						—						(124,515)
Interest rate swaps			(423)						—						(423)						—						(423)
Accrued interest payable			(7,152)						—						(7,152)						—						(7,152)

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Topic 820
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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